Magiclean Corporation is considering the acquisition of Dustvac Company. Dustvac has a capital structure consisting of $5 million (market value) of 11% bonds and $10 million (market value) of common stock. Dustvac’s pre-merger beta is 1.36. Magiclean’s beta is 1.02, and both it and Dustvac face a 40% tax rate. Magiclean’s capital structure is 40% debt and 60% equity. The free cash flows from Dustvac […]
Page 1 of 31. Heron, Inc. is a company that re-sells one product, a particularly comfortable lawn chair. An overseas contractor makes the product exclusively for Heron, so Heron has no manufacturing-related costs.2. As of 11/06, each lawn chair costs Heron $4 per unit. Henron sells each chair for $10 per unit.3. The estimated sales (in units) are as follows:Nov 0611,250Dec 0611,600Jan 0710,000Feb 0711,400Mar 0712,000Apr […]
Magiclean Corporation is considering the acquisition of Dustvac Company. Dustvac has a capital structure consisting of $5 million bonds at after-tax cost of 11% and $10 million of common stock. Dustvac’s pre-merger beta is 1.36. Magiclean’s beta is 1.02, and both it and Dustvac face a 40% tax rate. Magiclean’s capital structure is 40% debt and 60% equity. The free cash flows from Dustvac are […]
A partial adjusted trial balance of Marigold Company at January 31, 2017, shows the following. MARIGOLD COMPANY ADJUSTED TRIAL BALANCE JANUARY 31, 2017 Debit Credit Supplies$1,010Prepaid Insurance4,260Salaries and Wages Payable$1,110Unearned Service Revenue1,060Supplies Expense950Insurance Expense710Salaries and Wages Expense2,110Service Revenue2,310 Answer the following questions, assuming the year begins January 1. If the amount in Supplies Expense is the January 31 adjusting entry, and $850 of supplies was purchased […]
During April, the production department of a process manufacturing system completed a number of units of a product and transferred them to finished goods. Of these transferred units, 41,000 were in process in the department at the beginning of April and 220,000 were started and completed in April. April’s beginning inventory units were 70% complete with respect to materials and 30% complete with respect to […]
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The below table summarizes the 2017 income statement and end-year balance sheet of Drake’s Bowling Alleys. Drake’s financial manager forecasts a 15% increase in sales and costs in 2018. The ratio of sales to average assets is expected to remain at 0.50. Interest is forecasted at 3% of debt at the start of the year. b Debt at the end of 2016 was $670,000. (Enter your […]
Retro Pty Ltd is a major manufacturer of industrial machinery. Detailed below is a description of its purchasing and payments system. (i) When the stores department requires items to be purchased, they issue a three-part prenumbered purchase requisition that needs to be approved by the store’s manager. Copy 1 is sent to the purchasing department, Copy 2 is sent to the accounts payable department and Copy […]
A manager checked production records and found that a worker produced 132 units while working 40 hours. In the previous week, the same worker produced 84 units while working 30 hours. a.Compute Current period productivity and Previous period productivity.(Round your answers to 2 decimal places.) Current period productivityUnits / hr Previous period productivityUnits / hr b.Did the worker’s productivity increase, decrease, or remain the same? (Round […]
The first acquisition target is a privately held company in a mature industry owned by two brothers, each with 5 million shares of stock. The company currently has free cash flow of $20 million. Its WACC is 11%, and the FCF is expected to grow at a constant rate of 5%. The company owns marketable securities of $100 million. It is financed with $200 million […]
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